Caminus Corp. expects to boost its revenues by 40% next year and gain a significantly larger presence in the energy software business with the purchase of Altra Energy Technologies’ software operations. Caminus bought Altra’s software business with 1.975 million shares of common stock (currently valued at about $32 million) and $30 million in cash.
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NiSource Inc., headquartered in Merrillville, IN, is expanding its Washington, D.C. presence to enhance the company’s advocacy efforts on federal government issues, and beginning June 4, Rebecca T. Sczudlo will be the company’s vice president of federal government affairs. Sczudlo has 20 years experience in government affairs and communications, including seven years as a staff member of the U.S. Senate Energy and Natural Resources Committee. She also has worked for Shell Oil Co. as a government affairs representative. She will report to NiSource CEO Gary Neale on policy matters and to Ramon Arredondo, assistant to Neale, administratively.
People
NiSource Inc., headquartered in Merrillville, IN, is expanding its Washington, D.C. presence to enhance the company’s advocacy efforts on federal government issues, and beginning June 4, Rebecca T. Sczudlo will be the company’s vice president of federal government affairs. Sczudlo has 20 years experience in government affairs and communications, including seven years as a staff member of the U.S. Senate Energy and Natural Resources Committee. She also has worked for Shell Oil Co. as a government affairs representative. She will report to NiSource CEO Gary Neale on policy matters and to Ramon Arredondo, assistant to Neale, administratively.
Anadarko Doubles Rockies E&P, Grows Canadian Business
Anadarko Petroleum Corp. is doubling up its Rocky Mountain exploration and production presence this year, announcing it would budget more than $131 million toward an aggressive strategy to find and develop new natural gas and coalbed methane sources. The Houston-based company also plans to grow its Canadian natural gas business, announcing plans to invest $380 million in drilling and development.
Anadarko Doubles Rockies E&P Strategy
Anadarko Petroleum Corp. is doubling up its Rocky Mountainexploration and production presence this year, announcing yesterday itwould budget more than $131 million toward an aggressive strategy tofind and develop new natural gas and coalbed methane sourcesthere. E&P will target some of the nearly eight million acrespicked up in the Union Pacific Resources merger last year (see DailyGPI, July 17, 2000).
AEC Doubles Rocky Mountain Presence
AEC Oil & Gas Inc. picked up its second group of Rocky Mountain assets last week, announcing its acquisition of the privately held Piceance Basin properties of Billings, MT-based Ballard Petroleum LLC. Ballard’s Mamm Creek field in northwest Colorado is estimated to be worth C$340 million (US$225 million), with 175,000 net undeveloped acres worth about C$35 million and a gas pipeline system worth C$31 million.
AEC Doubles Rocky Mountain Presence
AEC Oil & Gas Inc. picked up its second group of RockyMountain assets yesterday, announcing its acquisition of theprivately held Piceance Basin properties of Billings, MT-basedBallard Petroleum LLC. Ballard’s Mamm Creek field in northwestColorado is estimated to be worth C$340 million (US$225 million),with 175,000 net undeveloped acres worth about C$35 million and agas pipeline system worth C$31 million.
KeySpan Locks Up Two Northeast Distributors
KeySpan expanded its presence in the Northeast last week with a$2.5 billion acquisition of Weston, MA’s Eastern Enterprises andManchester, NH’s EnergyNorth. Joined with KeySpan’s Brooklyn UnionLDC, the deal creates the largest natural gas distribution companyin the Northeast and fifth largest in the United States, with 2.4million natural gas customers.
KeySpan Locks Up Two Northeast Distributors
KeySpan expanded its presence in the Northeast this week, with a$2.5 billion acquisition of Weston, MA’s Eastern Enterprises andManchester, NH’s EnergyNorth. The deal creates the largest naturalgas distribution company in the Northeast and fifth largest in theUnited States, with 2.4 million natural gas customers.
Allegheny Increases WV Presence
Allegheny Energy’s $323 million acquisition of West Virginia-basedMountaineer Gas Co. (MGC) was completed on schedule thisweek. Allegheny Energy assumed the responsibility of Mountaineer GasCo.’s 11.7 Bcf of gas storage and 200,000 natural gas customers alongwith the company’s ownership rights from Energy Corp. of America (seeDaily GPI, Aug. 15).